Payments Optimization: Mastering the Dance with Your Suppliers
Guest post from Ernie Humphrey, CTP. Originally appeared on LinkedIn. Advances in technology are motivating companies of all sizes to give accounts payable the attention it deserves. However, many companies still struggle in conquering the last mile of accounts payable, payments optimization. Historically, companies have paid suppliers by checks, and have not taken control over …
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5 Ways To Keep Your Accounts Payable Security Tight
Whether it’s online or in the real world, fraud prevention should be a top priority for any company, regardless of size or field. Even relatively “minor” cases of AP fraud can result in businesses losing tens of thousands of dollars. Fortunately, there are a number of best practices your company can follow to ensure you keep a strong …
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The Top 5 Traditional Accounts Payable (AP) Pains When You Use Your ERP Alone
Most finance professionals know that manual accounts payable (AP) processes are plagued with problems. However, many of the business people that we speak with have a hard time articulating what it is about their AP process that’s so challenging, and what are the worst of the problems they face. They are used to their process using …
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Automate Wire Payments with Microsoft Dynamics Great Plains (GP)
Companies of all sizes are using accounts payable automation solutions to reduce manual workloads and gain access to multiple payment methods from one central location. For Microsoft Dynamics GP users, you can fully integrate with MineralTree Invoice-to-Pay to automate your complete end-to-end invoice and payment process. A true real-time sync ensures your ERP is …
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Why Are We Spending So Much Time Processing Payments?
Asking finance executives "where do you spend a majority of your time", their top response was reconciling the GL (see pie chart inserted). While reconciliation of your general ledger can be optimized by using tools that integrate fully so you do not have information on various islands that need to be consolidated and reconciled manually, …
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Why You Should Automate Your Purchase Order Match Process
Growing businesses use purchase orders to streamline and control purchasing activity, while gaining visibility into the impact of spending on budgets. Approved purchases result in purchase orders being issued to vendors by buying organizations. Vendors fulfill purchases – by delivering goods and services – and then present invoices for payment against the purchase orders. While purchase …
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ERP for Accounts Payable: Why You Deserve Better
In the realm of business technology, the great debate still rages, a suite solution versus a best-of-breed solution. Each side of the argument has its merits. For the suite solution side of the argument, having one vendor relationship and one software application to manage and support in terms of maintenance and user training. For the …
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What CFOs Are Concerned About in 2017
I was recently looking at this article that took a close look at the CFO’s concerns in 2017. Ending a year with a new President, escalated fraudulent tactics and the UK’s decision to leave the European Union have left no room for more worries from the CFO office. Yet, challenges continue to mount. Risks – economic uncertainty, privacy …
Payment Execution Best Practices for Microsoft Dynamics GP
Nearly 60% of businesses today are still using checks to make vendor payments. Why are so many not taking advantage of alternative forms of payments when there are clear strategic benefits from each? When do you use one payment type over another and what is the impact on your vendor relationships? Let’s dive in to …
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9 Questions To Ask When Evaluating AP Automation Solutions
You already understand how accounts payable (AP) automation would benefit your organization. Now you’re ready to evaluate solutions, schedule product demonstrations, and determine what makes sense for your business. It’s up to you to determine the best solution for your organization and identify potential weaknesses that might actually decrease efficiency. Doing your homework will mitigate …
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